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REQUEST FOR HRA ACTION Date: 4-20-10 Item No: 9b Staff Approval: Agenda Section: Action Items Item Description: Allow the RHRA to negotiate an Option Agreement with Roseville School District 623 Background Last year, the RHRA had a Comprehensive Multifamily Housing Needs Analysis completed by Maxfield Research. In that market study, several different types of housing needs were identified for Roseville. Most notable was the need for Affordable Senior Housing. The RHRA 2010 work plan identifies the RHRA exploring opportunities to create affordable senior housing. In addition, the RHRA 2008-2012 Strategic Plan encourages the development of a variety of housing options in price and product type to meet life cycle needs of the community as well as to retain and attract a diverse mix of people and family types with varying economic statuses, ages, and ability. Based on these goals, staff has identified the Old Owasso School site at the corner of Woodhill and Victoria as possible opportunity to create some needed housing. The Roseville School District has talked about repurposing the site for a couple of years. This site is guided for high density residential. Staff would like to work with the Roseville School District and negotiate an option agreement that would allow the RHRA to go out for request for proposal (RFP) to developers/builders to redevelop the site and address the needs that have been identified in the 2009 Market Study. At this point, it is unknown what role the RHRA would play in the redevelopment of the site, but staff believes the site is a great opportunity to explore. Suggested RHRA Action Staff is asking for authorization from the RHRA to negotiate an option agreement with Roseville School District 623 for the old Owasso School site. If successful, staff will bring back an option agreement to the May meeting for the board to approve. Prepared by: Jeanne Kelsey (792-7086) Negotiations of Option Agreement